To help egg farming businesses understand their operating environment, Aus Eggs recently commissioned economic consultants to analyse Australia's population growth and projections for the coming years. Following a post-COVID spike in population growth driven by migration, Australian population growth is now easing back towards long-term averages, with slower growth now expected over the next decade.
Forecasts indicate that the two major drivers of population growth, Net Overseas Migration and Natural Increase (birth minus deaths), are softening. A key factor is an expected decline in temporary visa holders particularly international students, due to recent policy changes.
Natural Increase will continue to add to population growth, though at a diminishing rate as fertility declines and deaths rise with an ageing population. Despite this, it will form a larger share of total growth as migration slows. Australia's population is forecast to reach 31.1 million by 2035-36, growing at a steady but subdued 1.1% annually.
